LIBERUM: Ten Entertainment Group* - Bowling still bouncing, further upgrades

Hybridan Small Cap Feast 06/01/22

Joiners: Graft Polymer (GPL.L) has joined the Main Market (Standard). Graft Polymer is a UK incorporated holding company with an innovative research and manufacturing facility, based in Slovenia. The core business of the Group comprises polymer modification and drug delivery systems developments. Established in 2017, the Group has already introduced more than 50 products to the market. Graft Polymer has developed a proprietary set of polymer modification technologies, which can improve existing

LIBERUM: Morning Comment

LIBERUM: Ten Entertainment Group* - Keep on rolling, FY21E profit upgrades

LIBERUM: Ten Entertainment Group* - On a roll, FY21E upgrades

LIBERUM: Ten Entertainment Group* - Dream restart, Summer LFL +42%

LIBERUM: Ten Entertainment Group* - Back in the fast lane

Small Cap Feast

Semper Fortis Esports* recently announced its intention to IPO onto the Access Segment of the Aquis Stock Exchange Growth Market. Semper is a multi-operational Esports organisation focusing on gaming technology solutions, brand enhancement and high growth team infrastructures. The company plans to raise £2.5m to develop their three core areas of establishing an esports team, forming partnerships with brands for sponsorship and B2B consultancy services. The Board are highly experienced in spor

Ten Entertainment Group - Strike!

Ahead of planned reopening on 17 May, the message of Ten Entertainment Group (TEG) is clear. With tenpin bowling as the driver, it has the product (a successful value proposition enhanced during the pandemic) and the resources (strong balance sheet with over £18m liquidity headroom) to capitalise in both the short and longer term. Despite 2020 sales down 57% because of COVID-19 restrictions investment continued apace (c 70% of 2019 levels), from digital to key refurbishments and ‘next-generation

LIBERUM: Ten Entertainment Group* - Ready for the alley rally

LIBERUM: Ten Entertainment Group* - Liquidity extended, confident LT outlook

Small Cap Feast

Where’s the Value?

Warren Buffett once said that as an investor, it is wise to be ‘fearful when others are greedy and greedy when others are fearful’. Fear is not in short supply right now.

Small Cap Feast

Circassia Pharma (CIR.L) - specialty pharmaceutical company focused on respiratory disease transferring from the Main Market. No funds being raised. Due 4 Feb. Greenfields Petroleum (TSX-V:GNF) production focused company with operated assets in Azerbaijan seeking AIM dual listing including $60m private placement. Mkt cap $12.6m CAD. Expected late January 2019.

Cenkos: Healthcare Sector - Ward Round

Weekly round-up of AIM-listed healthcare news. Venture Life Group, GENinCode, Kromek, Alliance Pharma, Polarean Imaging, Benchmark Holdings, Ondine Biomedical, Verici Dx, Faron Pharmaceuticals, Avacta Group, Abingdon Health, Open Orphan, Belluscura, Hutchmed (China), Oxford Biodynamics

Vertu Motors PLC (VTU LN) - Continued positive momentum

Vertu has released an AGM Trading update that communicates a continuation of the strong trading announced on 11 May. The trends of constrained supply and high margins continue. We leave forecasts unchanged today, but this positive update for the first third of FY23 helps to underpin our full year forecasts.

SHORE CAPITAL - XP Factory+ (XPF) - House Stock at 20p

SHORE CAPITAL - XP Factory (XPF) - House Stock at 20p

Hybridan Small Cap Feast 28/06/2022

Joiners: No Joiners Today. Leavers: Raven Property Group has left the Main Market. What’s cooking in the IPO kitchen? Immediate acquisitions (IME.L) is to re-join AIM via a Reverse Takeover of Fiinu Holdings Limited. Once complete the Company is proposing to change its name to Fiinu Group plc. Fiinu intends to be a provider of a consumer banking product, the Plugin Overdraft ®, which is designed to provide customers with an overdraft facility without having to change their current account or req

Hybridan Small Cap Feast 01/07/22

1 July 2022 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectives

SHORE CAPITAL - Marks & Spencer+ (MKS, House Stock at 138p)

Remarkably solid pricing fosters margin rebuilding

Despite no further surprise in terms of the H2 capacity outlook, easyJet’s H1 trading update pleased the market with a better-than-expected pre-tax headline loss. It is worth highlighting the group’s more-than-robust pricing power, which is expected to largely offset the unhedged fuel costs and the recent activities disruptions/cancellations at UK airports.

Guild Esports (GILD LN) - H1 results

Revenues grew to £1.1m, driven by sponsorship signings. Loss before tax increased to £5.0m but the company expects losses to reduce going forward due to continued growth in sponsorship revenues and cost-cutting (-20%). Net cash was £6.1m the end of March and £6.5m currently (£3.5m net of accruals). The company is in discussion with relevant parties regarding this year’s £3m fee to Footwork Productions Limited, a David Beckham company.

Zeus: Video Games Sector Quarterly review - July 2022

In the June edition of Zeus’ Video Games quarterly report, we note that sector activity has declined for a second consecutive quarter but that activity remains well above pre-pandemic levels. Share prices have fallen across all subsectors with the Continental European PC and Console focused subsector topping performance and the UK PC and Console focused subsector lagging in the quarter. In the current environment, earnings reliability and diversity are being valued at a premium, leading to highe

Hybridan Small Cap Feast 07/04/22

Joiners: Ajax Resources (AJAX.L) a special purpose acquisition company established to deliver shareholder value through the acquisition of businesses or production and development assets in the energy and natural resources sector, joins the Main Market. Raising gross proceeds of £1,342,000 at a price of £0.04p per IPO Share, of which the Board of Directors has invested an aggregated amount of £130k. Leavers: No leavers today. What’s cooking in the IPO kitchen? Financials Acquisition Corp, a spec

Walmart Inc. - Investment Thesis, Key Drivers, Financial & Price Forecasts, DCF Valuation 8/21

Walmart had another rock solid quarter with a revenue growth of 7.6% in constant currency and a staggering 24.1% growth in operating income at constant currency. Moreover, Walmart Connect, their advertising business in the United States, more than doubled in size as compared to the prior-year quarter, with more than 170% growth in active advertisers. The management provided a series of interesting updates with respect to various innovative initiatives. Their latest investments aim to increase as

LIBERUM: Loungers* - Ready for the reawakening

Small Cap Feast

tinyBuild— a leading video games publisher and developer with global operations. tinyBuild's strategic focus is in creating longlasting IP by partnering with video games developers, establishing a stable platform on which to build multi-game and multimedia franchises is to join AIM. Offer details TBC. Due mid-March. AMTE Power, a developer and manufacturer of lithium-ion battery cells for specialist markets, announced its intention to seek admission to trading on AIM. Admission is expected to ta

Trading continues to prove to be more robust than expected - upgrades